How to buy 100+ units with on-site management?
Hello all,
I'd like to grow my portfolio by larger chunks, but am unsure how on-site management is handeled. Right now, I own just under 90 units on multiple parcels, ranging from 8 units to 25 units per parcel and have 3rd party, off-site management.
I want to buy a larger property (e.g., 1 parcel with 100+ units), but am unsure how it works when there is in-place, on-site management. From the apartments I recall living in, there’s usually a leasing office with a staff of 2-4+ employees. When purchased, do you inherit the staff or is the staff just a 3rd party management company with staffing on-site? If you do inherit the staff, who is in charge of managing the staff?
In other words, how to do you scale and take advantage of in-place, on site management?